The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-16

TENDER 6 90 70 I. Ole; October, LO2 a T. 6c. Novem
Der, g. "a a Z. 02c.
Butter firm and in fair request: Western. 100
l9c. Cheese dull and declining; Western, s99sc-
CHICAGO, June 15-Every body was on the
qui vive for developments, and. while excite
ment did not run high AS yesterday, the feel
ing far more nervous and feyerish. The I'M
certainty of the financial standing of some OF
the houses was what caused the greatest anxiety,
and, as one firm after another-some twelve to
fourteen all-gave notice that they unable
to further margin their trades. and asked to have
trades closed out. the anxiety Increased, none
knowing who would be next Outside influences
counted for nothing everything depended on To-
cal Developments. Many commission merchants
have refused temporarily to make new trades.
and giving all their attention to the settling
up of their old business. The opening was wild
and excited. and, the announcement was
made by of the principal firms connected
would be put up, the market became
very strong and prices were, after
numerous sudden fluctuations, started up, ad-
vancing TO a point BIC higher for June. 1sc high
for July and a l4c higher for the other fut-
ures than closing figures yesterday But the
advance brought out heavy offerings again, and
then came the announcements. one after anoth-
ct, from firms to close out their trades. and
panic quickly followed. Fluctuations were very
frequent. but each temporary reaction resulted
In prices dropping lower and lower until toward
noon, when there was a temporary lull and the
market remained steady for a while. Operators
expected some further important announcements
interval the hands Of the wheat
indicator quietly recorded drop of a lie at a
time until July touched Toe. Never before in
the history of the wheat trade has such an ap-
paline stiffness reigned. With wheat dropping
Sc in less than that many minutes, operators
gazed blankly at another not knowing
where the end would be. But reaction came,
and the price of July gradually shot up q lie at
time selling TO &c; followed Ty h frnr ens
highest point to-day was &c. and from the high
est point reached last week 11sc. closing about
2Sc lower than yesterdays closing. June de-
clned 9kc from the highest point reached this
morning, and 25sc from the highest point
reached last week, closing 4sc lower than yes
terday. The more deferred futures ruled at a
premium over near futures, but all sold lower,
August at times ruling &c, Septem Der 2sc and
December lsc lower than closing figures of yes
terday afternoon, and closing at from Ii 02c
lower. Home markets all very unsettled
and generally lower Foreign markets were
depressed, and the quantity on ocean passage
showed a large increase
Corn was unsettled, weak and lower. Trad
ing of fair volume with considerable
'long" corn on the market, and several lots were
closed out. The market acted somewhat in
sympathy with wheat. The market opened ex-
cited at about &c higher than closing figures of
yesterday, was steady for time, then ruled
weak. declining in all I0l5c, huctuated some,
and closed &c lower for July and &c higher for
August than yesterday. July opened at 81 a
373c, and closed c BIC August opened at 3Ss %
3SAc, and closed at 38c Cash and June delivery
oats were weaker and about a &c lower. there
being some liquidation. but July and longer de-
liveries ruled a shade firmer, being about a &c
hotter, compared with yesterdays closing.
There consider able trading. a good deal be-
ing done in the way of settling trades July
opened at csc, and closed at 25sc.
Trading in provisions was brisk, but the mar
ket was nervous and unsettled throughout the
day, sympathizing with the excitement and
weakness in grain. Free offerings behalf of
suspended firms was the main cause of the sharp
decline in prices. The demand fairly active
from those who the short" side of the
market and were anxious to secure their profits.
Prices fiuctuated wildly, especially between 10
and IL o'clock. when parties were endeavoring to
close out their trades. July, August and Sep
TENDER deliveries met with more attention with
closing up of trades than transferring
ahead. Prices were lower but the market closed
steadier. July lard opened at Goo, and closed
at 6523c. July ribs opened at SOC and closed
at 7373c. The leading futures ranged as fol-